Security First Bank, Bravera Bank, and Starion Bank contributed to the Federal Home Loan Bank of Des Moines’ Member Impact Fund, which resulted in CommunityWorks North Dakota receiving $80,000 in support. 

Earlier this year, FHLB Des Moines selected North Dakota to part of the campaign. For a limited time, all FHLB member institutions could partner with CommunityWorks through a matching grant program that will provide up to $3 for every $1 of member’s grants to CommunityWorks North Dakota.

CommunityWorks is part of Lewis & Clark Development Group (LCD Group) and North Dakota’s only chartered member of the national NeighborWorks America® (NWA) network.

Security First Bank contributed $40,000, Bravera Bank donated $30,000, and Starion Bank gave $10,000 to the Fund.

Banks’ support adds to multiplier effect

“It is an understatement to say we appreciate the support of Security First, Bravera, and Starion,” says Brent Ekstrom, LCD Group executive director.
 

“These three banks consistently are among our most reliable and strongest partners. We can always count on them for their support and collaboration.”
Ekstrom said the Member Impact Fund was a rare opportunity for CommunityWorks and one the organization needed to capitalize on.

“The Member Impact Fund provides us with a multiplier effect that positively impacts our capacity to provide housing solutions, which is North Dakota’s most pressing challenge at the moment,” notes Ekstrom. 

A lack of inventory, homes priced too high, and too few affordable rental units are the three toughest challenges confronting the state. State and national data all confirm this.

North Dakotans agree. A recent survey conducted by Community Action Partnership of North Dakota found 65 percent of residents list affordable housing as the state’s biggest overall need. 

Committed to Solutions

For 28 years, CommunityWorks North Dakota has been at the forefront of providing affordable housing solutions for North Dakota’s communities through collaboration with the state, communities, lenders, and developers.

In that time, the organization has created 3,313 single- and multi-family housing units and has managed grants and investments that have leveraged more than $105 million in affordable housing projects throughout the state.

“I’ve argued for many years that North Dakota can only overcome the affordable housing challenge through public-private partnerships and coordinated collaboration. Security FirstBravera, and Starion understand this challenge and their support demonstrates, once again, that they are committed to being part of the solution.”

 
Photo Credits: LCD Group, Security First Bank, Bravera Bank, Starion Financial
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